Crude oil keeps its positive stability – Analysis - 27-02-2017

Crude oil price fluctuates near the EMA50 keeping its stability above it, and the price remains stable above the previously breached triangle’s resistance, noticing that stochastic shows positive signals on the four hours time frame.

Therefore, these factors encourage us to keep our bullish trend expectations in the upcoming period, waiting for targeting 55.27 then 56.50 levels mainly, pointing that holding above 53.55 represents the first protection factor for the continuation of the positive expectations.

Expected trading range for today is between 53.00 support and 56.50 resistance.

Expected trend for today: Bullish